of these lotteries for each state. Thus, this paper's main departure from the standard subjective expected utility model … utility models and the behavior implied by the multiple priors models. …

empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar …

with varying mechanisms. Against the background of the Expected-Utility Theory (EU-Theory), firms are differentiated by … utility. A twofold approach is followed to analyze the theoretical model. For the empirical testing a large-scale survey about …

Weitzman-type stochasticity. We show that, under expected power utility, the model is fragile to heavy-tailed distributional … assumptions and we derive necessary and sufficient conditions on the utility function to avoid fragility. We solve our stochastic … economy-climate model for two cases with compatible pairs of utility functions and heavy-tailed distributional assumptions. We …

be reasonable accommodated by expected utility plus an error term. This conclusion implies that the violation rate of … expected utility should decrease if errors are excluded. The present paper presents an experiment which investigates this … be regarded as a more serious challenge of expected utility than the Allais paradox. More general, while expected utility …

empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar …Diese Arbeit erweitert frühere Umfragen über den Nutzen der Technischen Analyse um die Flow Analyse als dritte Form der …

According to the harmonic sequence paradox (Blavatskyy 2006), an expected utility decision maker's willingness …-to-pay for a gamble whose expected payoffs evolve according to the harmonic series is finite if and only if his marginal utility … of additional income becomes zero for rather low payoff levels. Since the assumption of zero marginal utility is …